360fxtrades Review – Uncovering the Truth

360fxtrades Review

The lucrative opportunities in the financial markets have attracted the attention of people all over the world for decades, but accessing them was a big hurdle for a long time. Luckily, all of this has changed with online traders and now you just need to open a trading account with a broker online to start. This sounds easy enough, but it still requires you to be cautious. This is because there are different types and categories of brokerages you can find in the market and their services and quality will vary drastically. You can check out this 360fxtrades review to see how it differs.

Not every brokerage you come across will be able to deliver the kind of services they promise. Yes, it is understood that every company will claim to offer you the best and most professional trading services, but whether they are able to do so or not is a completely different ball game. Most importantly, you need to bear in mind that some of them are just not interested in doing so because they are fraudulent. Their goal is to just present a sophisticated front that draws your attention long enough for you to deposit your funds and then they pull a disappearing act.

Even if you have money to spare, you would not want to lose it to these criminals. Hence, you need to know a broker properly before you decide to use their services. Uncovering the truth the hard way can be devastating, so it is better to do it with a bit of research before you sign up. You should do the same in the case of 360fxtrades. At first glance, the brokerage is quite interesting because it is offering access to the crypto market as well. Since these digital currencies are in high demand, people will be eager to sign up.

Nonetheless, you need to be cautious and uncover the truth first and doing so pays off. You will find just what issues exist with 360fxtrades. Read on to know what they are:

False regulation claims

The easiest way to check the authenticity and reliability of a brokerage is via their regulatory status. A licensed and regulated broker can be trusted because there can be accountability and you can expect quality services. The problem here is that many scams in the market know that people will give preference to regulated brokerages, so they claim to be in the same category when they are not. This means that you have to verify a broker’s regulated status and this should be done with 360fxtrades as well.

If you take a look at the claims that 360fxtrades has made, you will immediately notice that they have advertised themselves as an award-winning regulated brokerage. Moreover, they have also mentioned that their headquarters are located in Hollywood. However, once you go digging, you will find that this is not true at all.

In order to have their offices in the US and operate from there, 360fxtrades would need a license from the Commodity Futures Trading Commission (CFTC). In addition, they would also have to be members of the National Futures Association. But, if you check the online registers of both these entities, you will not find the name of 360fxtrades anywhere. This means that the regulatory claims are downright false.

Virtually anonymous

When you have already established that 360fxtrades is not a regulated brokerage, then it means that anything the brokerage claims cannot be trusted. Even if they have given an address of their office in the United States, it is of no value because there is no way for you to actually verify their credentials. This is the purpose of regulation and licensing and since they don’t have one, it means that 360fxtrades is a virtually anonymous website and can up and disappear whenever they want.

Claims of ‘zero risk’

There is no doubt that everyone knows how profitable the financial markets can be. After all, many people have made their fortunes in this space and continue to do so. But, it is also well-known that there is a lot of risk involved as well. This is particularly true for the cryptocurrency market, which is considered extremely volatile. Therefore, if anyone promises to help you trade with ‘zero risk’, you should immediately be suspicious and this applies to 360fxtrades too.

When you go through their presentation, you will notice that 360fxtrades really does make such a claim of ‘zero risk’ in crypto trading and also promises that trading is extremely easy. This should immediately alert you because no genuine brokerage would ever do so. As a matter of fact, many companies in regulated jurisdictions are required to issue a warning to their clients and provide statistics of people who have suffered from losses in the market. The authorities in the EU and the UK require brokers to mention the percentage of people who lose money via their platforms.

While 360fxtrades does not do that as it claims to be based in the US, it is still misleading its clients and this makes it a major problem.

Lack of trading software

How does an online broker help people in trading in the market? They provide a trading software to do so and this is used for trade execution. The software is extremely important because it also provides tools that can be quite helpful in the trading process. If you search for reputable platforms, you will find names like the MT4, MT5 and cTrader, as these are some of the best options in the market and are equipped with a variety of tools and advanced functionalities.

You would expect the same from 360fxtrades, considering the claims it makes, but it comes as a massive shock when you see that they don’t have a trading software at all. A brokerage not having its primary offering is obviously shocking because you will not be able to trade at all, but this is exactly the case.

Final Words

Keeping the issues with 360fxtrades in mind, you can see that the truth about the fraudulent nature of this brokerage.